Reciprocating Engine Market 2022 Top Trends, Growth Opportunities & Projections To 2027
Category: #energy-and-environment  By Ronak Bora  Date: 2022-05-11
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Reciprocating Engine Market 2022 Top Trends, Growth Opportunities & Projections To 2027

With increasing inclination towards cogeneration technologies and renewable sources of energy generation, reciprocating engine market is projected to witness enormous growth over the upcoming years. Further, stringent government regulations looking toward regulating the GHG emissions along with increasing frequency of weather-related disasters will positively influence the industry dynamics over the span of 2020 to 2026. In addition, increasing demand for continuous and reliable power supply and expanding industrial sector will fuel the product adoption.

Furthermore, rising inclination towards energy optimization and growing seaborne trade activities are also enhancing the market growth. Not to mention, the thriving telecom sector and rapid expansion of datacenters are also likely to produce a demand spurt for these engines in the years to come.

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Considering the growth potential of the market, several major business players operating in reciprocating engine market such as Wärtsilä, MAN Energy Solutions, Siemens, Caterpillar and Cummins are inclined on implementing effective business strategies such as new product development, mergers, acquisitions to gain a strong market presence. For instance, in 2017, Siemens launched its first 2MW gas engine specially designed for applications pertaining to distributed power generation. According to the company, these new E-series engines were used in CHP applications at its campus in Erlangen, Germany. Reportedly, this product launch helped the company strengthen its position in the market of gas-fired reciprocating engines.

An overview of the major segments favoring the market growth is outlined as below:

With regards to rated power, reciprocating engines of power > 7.5 MW are expected to witness burgeoning demand over the following years owing to their extensive application across cogeneration plants, industries and commercial spaces. Further, increasing power failures, aging grid infrastructure and rising natural calamities will instigate reciprocating engine applications thereby enhancing the business outlook. In addition, progression towards renewable and cleaner energy sources coupled with growing concerns regarding fossil fuel consumption will positively influence the demand of reciprocating engines of power rating >7.5 MW in subsequent years.

In terms of fuel type, diesel fired reciprocating engines are amassing immense popularity owing to the ongoing efforts undertaken by governments such as rural electrification programs majorly across several emerging economies which has evoked the demand for these reciprocating engines. Moreover, these reciprocating engines offer several benefits such as lower installation cost, rapid start up along with higher reliability and performance which is favoring their deployment further.

Based on application bifurcation, power segment is estimated to register substantial gains over the coming years owing to shifting consumer inclination towards sustainable electricity generation plants in conjunction with growing consumer awareness regarding reliable and efficient power backup solutions. Besides, supportive resiliency policies and initiatives as well as CHP oriented environmental norms are some of the crucial factors which will facilitate the adoption of reciprocating engines significantly.

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In terms of regional outlook, reciprocating engine industry across Middle East & Africa is anticipated to observe a significant growth rate of 4% through 2027. The growth can be attributed to increasing demand of electricity along with economic development and growing urbanization in the region. Ongoing measures taken in the region to electrify remote areas in line with increasing susceptibility of grid infrastructure to external damage, will enhance the business landscape further. In addition, significant investments across mining, oil & gas and construction industries will foster the demand for high-quality and reliable power supply.

Partial Chapter of the Table of Content

Chapter 2   Executive Summary

2.1    Reciprocating engine market 3600 synopsis, 2017 – 2027

2.1.1    Business trends

2.1.2    Fuel trends

2.1.3    Rated Power trends

2.1.4    Application trends

2.1.5    Regional trends

Chapter 3   Reciprocating Engine Industry Insights

3.1    Industry segmentation

3.2    Industry ecosystem analysis

3.2.1    Vendor Matrix

3.3    Innovation & sustainability

3.3.1    Wärtsilä

3.3.2    Cummins, Inc.

3.3.3    MAN Energy Solutions

3.3.4    Rolls Royce

3.3.5    Caterpillar, Inc.

3.3.6    Yanmar Co. Ltd.

3.3.7    Briggs & Stratton

3.3.8    Mitsubishi Heavy Industries

3.3.9    Siemens

3.3.10    John Deere

3.3.11    JCB, Inc.

3.3.12    Kirloskar Oil Engines Ltd.

3.3.13    Briggs & Stratton

3.3.14    Kawasaki Heavy Industries

3.3.15    Ashok Leyland

3.3.16    DEUTZ AG

3.4    Regulatory Landscape

Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/reciprocating-engine-market 

Related News: https://www.marketwatch.com/press-release/orc-industrial-waste-heat-to-power-market-top-trends-growth-analysis-forecast-to-2027-2022-05-11

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About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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